Discover Dollar, the Bangalore based startup thathelps large retailers identify and resolve revenue leakages to the tune of millions of dollars, today announced that it has been selected for this year’s edition of METRO Accelerator for Retail, Berlin powered by TechStars. Founded by Subrahmanya Rao, the company will receive an investment of €120,000 and admission to an exclusive three-month mentorship-driven accelerator program in Berlin. Out of the hundreds of companies that applied to the Accelerator from across the globe, Discover Dollar is amongst the 9 that have been selected.
Subrahmanya Rao, Founder and CEO, Discover Dollar said, “We are thrilled to be a part of this year’s edition of METRO Accelerator for Retail. This is a great recognition and a validation of our business model. We look forward to the 3-month intensive mentorship which will give us a 360-degree view of global retail best-practices and upcoming innovations. We hope to gain immensely from the insights of industry-experts and entrepreneurs, who will mentor us during this period.”
Large retailers typically lose anywhere between 0.5% to 5% of their annual revenues due to errors like unaccounted discounts, pricing errors and unclaimed mark downs leading to a loss of millions of dollars annually. Launched in 2014, Discover Dollar’s solution analyses various data including purchases, sales, promotions, emails, and contracts and helps them identify and resolve these errors with the click of a button. The company is already working with Fortune 500 retailers including Target Corporation in the US and has helped them save multi-million dollars of lost money. Discover Dollar has earlier won "Anthah Prerana" award from TiE Bangalore supported by Govt. of Karnataka and Microsoft. It has also been awarded by SAP globally as the "Most Innovative Solution" in their flagship event SAPPHIRE at Orlando Florida.
Jag Singh, Managing Director, METRO Accelerator said, “Discover Dollar has a very interesting solution that recovers millions every year for large retailers, lost due to unenforced accounting errors. Discover Dollar makes a direct impact to their bottom line by saving money without adding anything to their marketing or sales costs. I’m confident that this solution will be relevant for every large retailer across the globe.”